Abbreviated Company Accounts - IDEM SAFETY SWITCHES LIMITED

IDEM SAFETY SWITCHES LIMITED - Company Information

Registered Number 04822458

IDEM SAFETY SWITCHES LIMITED

Abbreviated Accounts

30 September 2015

IDEM SAFETY SWITCHES LIMITED Registered Number 04822458

Abbreviated Balance Sheet as at 30 September 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	310,244	307,206
Tangible assets	3	1,269,498	1,286,026
		1,579,742	1,593,232
Current assets
Stocks		1,323,697	1,027,952
Debtors		1,497,796	672,067
Investments		-	200,000
Cash at bank and in hand		495,188	556,961
		3,316,681	2,456,980
Creditors: amounts falling due within one year		(1,260,903)	(757,699)
Net current assets (liabilities)		2,055,778	1,699,281
Total assets less current liabilities		3,635,520	3,292,513
Creditors: amounts falling due after more than one year		(808,088)	(434,280)
Total net assets (liabilities)		2,827,432	2,858,233
Capital and reserves
Called up share capital		976	1,002
Revaluation reserve		554,033	554,033
Other reserves		75	-
Profit and loss account		2,272,348	2,303,198
Shareholders' funds		2,827,432	2,858,233

For the year ending 30 September 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 June 2016

And signed on their behalf by:
M Mohtasham, Director

IDEM SAFETY SWITCHES LIMITED Registered Number 04822458

Notes to the Abbreviated Accounts for the period ended 30 September 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets other than land and buildings are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery 25% reducing balance
Fixtures, fittings and equipment 25% reducing balance
Motor vehicles 25% reducing balance

Intangible assets amortisation policy
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

2Intangible fixed assets

	£
Cost
At 1 October 2014	1,100,582
Additions	247,949
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	1,348,531
Amortisation
At 1 October 2014	793,376
Charge for the year	244,911
On disposals	-
At 30 September 2015	1,038,287
Net book values
At 30 September 2015	310,244
At 30 September 2014	307,206

3Tangible fixed assets

	£
Cost
At 1 October 2014	1,415,671
Additions	62,028
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2015	1,477,699
Depreciation
At 1 October 2014	129,645
Charge for the year	78,556
On disposals	-
At 30 September 2015	208,201
Net book values
At 30 September 2015	1,269,498
At 30 September 2014	1,286,026